West Pequop Returns 141 Feet at 0.238 Ounces Gold per Ton
posted on
Jan 22, 2009 02:21AM
Nevada, Spain & Argentina...AuEx Has It All
January 22, 2009 | |
AuEx Ventures, Inc.: West Pequop Returns 141 Feet at 0.238 Ounces Gold Per Ton | |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2009) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) is pleased to report additional assay results, including core hole WNC-144 reporting 141 feet grading 0.238 ounces per ton gold ("opt") from the Mountain Top zone at the Company's West Pequop gold exploration project located in Elko County, Nevada. These results confirm and extend gold mineralization in the Mountain Top target area with mineralization still open. This data was provided by the Company's joint venture partner Agnico-Eagle (USA), Limited ("Agnico-Eagle") from drilling completed in late 2008 on the 29,000 acre West Pequop Venture property. The 2008 program, completed in November 2008, comprised 40 drill holes totaling over 38,000 feet. Assays for the final 9 holes are reported below. Agnico-Eagle plans to continue to fund an aggressive exploration program for the West Pequop Venture in 2009 with a budget of approximately $4 million. Commenting on the results Ronald Parratt, President & CEO, stated, "The results from hole 144 at Mountain Top confirm values found earlier in hole 135 and extend those values deeper. The area is a complex zone of solution and cave collapse breccias and contains excellent grades making it attractive for further evaluation." New assay results for the West Pequop Venture are as follows:--------------------------------------------------------------------------- Drill Hole From To Thickness Grade Number (feet) (feet) (feet) (oz/ton) Comments --------------------------------------------------------------------------- WNC-144 100 241 141.0 0.238 Mountain Top (core) --------------------------------------------------------------------------- WNC-146 150 160 10.0 0.018 Section 34 (core) 465 485 20.0 0.029 534 544 10.0 0.033 --------------------------------------------------------------------------- WNC-147 224 248.5 24.5 0.026 Section 34 (core) 307 317 10.0 0.024 638 649.5 11.5 0.042 686.5 727.5 41.0 0.076 --------------------------------------------------------------------------- WNC-148 430.4 451.0 20.6 0.015 Section 34 (core) --------------------------------------------------------------------------- Drill holes WNC-140, 141, 142, 143 and 145 had no reportable intercepts. Gold mineralization encountered has been typical of oxidized Carlin-type occurrences and is commonly associated with faulting, felsic dikes and solution collapse breccias. Although mineralized drill holes have commonly been oxidized, one hole drilled in 2008 encountered sulfide minerals including stibnite - a classic indicator of Carlin-style mineralization. As reported to AuEx by Agnico-Eagle, all drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. Samples assaying over 10 parts per million gold are routinely re-assayed using standard fire assay techniques on a 30 gram sample with a gravimetric finish. QA/QC included the insertion of numerous standards and blanks into the sample stream. Check assays and preliminary cyanide amenability testing is underway. All intercepts are reported as drilled; true widths have not been calculated. All data, as reported to the Company by Agnico-Eagle and disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and Certified Professional Geologist. Further details concerning the West Pequop property are described in the Company's National Instrument 43-101 report filed on Sedar and are on the Company's website. AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of twenty one exploration projects in Nevada, two projects in Argentina and one project in Spain. The Company controls about 80,000 acres of unpatented claims and fee land in prospective areas of Nevada. Eleven of the projects are in exploration earn-in or formal joint venture agreements with five companies who provide exploration funding. The Company applies the extensive exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture. AuEx Ventures, Inc. Ronald L. Parratt, President & CEO |